The Halifax Real Estate Market Weekly Market Rant and Statistics Update, by Jeremiah Wallace of ViewPoint Realty (Every Thursday)
Halifax (HRM) Residential Statistic Update for the Week of July 27th - August 3rd, 2017
(Previous weeks numbers in brackets)
*Previous Year's Stats
New Listings: 307 (305, 322, 360, 302) *305
Sold: 142 (167, 162, 164, 146) *123
Sale To Listing Ratio: 46% (55%, 50%, 46%, 48%) *40%
Price Changes: 196 (197, 233, 229, 189) *201
Listings that went conditional/pending: 191 (194, 160, 186, 176) *145
Expired/Cancelled/Withdrawn: 290 (115, 119, 114, 257) *284
Total Active Halifax/Dartmouth Inventory: 4,805 (4,884, 4,894, 4,868, 4,825) *5,389
Absorption Rate in weeks: 30 (30, 30, 27, 26) *39
Single Family Home Stats
Active Single Family Home: 2,968 (2,999, 3,010, 2,998, 2,957) *3,564
Average Single Family Home List Price: $325,354 ($300k,$324k,$310k,$286k) *$305k
Average Single Family Home Selling Price: $313,919 ($287k,$314k,$302k,$276k) *$294k
Single Family Home Sale to List Ratio This Week: 97% (96%, 97%, 98%, 97%) *96%
Median Single Family Home List Price (6 mo): $279,900 ($279k,$279k,$275k,$275k)*$285k
Median Single Family Home Sold Price (6 mo): $271,900 ($270k$279k,$270k,$270k)*$274k
Average Days on Market Single Family Home: 81 (74, 68, 77, 85) *98
Active Condos: 451 (473, 479, 485, 476) *493
Average Condo Listing Price: $279,194 ($237k, $261k, $270k, $245k) *$241k
Average Condo Selling Price: $269,736 ($227k, $257k, $261k, $232k) *$232k
Condo Sale to List Ratio This Week: 97% (96%, 98%, 97%, 95%) 97%
Median Condo List Price (6 mo): $234,900 ($235k, $235k, $234k, $230k) *$227k
Median Condo Sold Price (6 mo): $225,000 ($225k, $225k, $223k, $220k) *$222k
Average Days on Market Condos: 68 (66, 65, 114, 103) *94
Active Vacant Lots: 1,158 (1,176, 1,156, 1,156, 1,159) *1,060
I dare say that the annual inventory decline has finally started. You never know though, things may change next week with such an unpredictable market! As mentioned, inventory is down this week, by a good amount too! Single family homes had a slight contribution to the reduction, but vacant land and condo's also contributed. It looks like inventory is down across the board, which isn't an unusual thing for this time of year, but this year has certainly prolonged the event. I feel like the market has been much like the winter was this year, active until way past its trend. I don't hear many complaints however, especially from Sellers, but seasons change and so too does the market. I was thinking with the tall ship festival in town that Kings Wharf would be sold out! But alas, only one of their units moved this week. It was a great festival though, and I'm certainly looking forward to the next one. What a great city we live in! Thanks for stopping by!
The Weekly Adogtable!
Humphrey is now ready to find his new home. A kind dog, Humphrey appears to like everything he meets but we would love for him to do it in a more polite way! His adoption requirements are as follows:
- A home with or without other animals; would require to meet any dogs prior to adoption.
- A home with children 12 or older.
- Obedience training mandatory upon adoption - he needs to learn manners with playing, walking, greeting people. Humphrey has also showed mild food guarding which training and a home environment will likely eliminate the behavior.
This "cuddly companion" is available through Homeward Bound City Pound, a non profit rescue organization from Halifax, Nova Scotia. More info about her, other adoptable's looking for their furever home, and ways to help or donate can be found by clicking HERE
LET ME HELP YOU OUT
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Jeremiah Wallace, CD
Jeremiah has been involved with many aspects of the Real Estate industry for over twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah